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IZNES, the international blockchain record-keeping platform for EU mutual funds powered by SETL’s blockchain technology, has just announced its first fundraising.

OFI AM and SETL, the institutional payment and settlement infrastructure provider which uses blockchain technology, have been joined as shareholders of IZNES by five asset management companies, who have participated in the development of the platform for several months: Arkéa IS, Groupama AM, La Banque Postale AM, La Financière de l’Échiquier and Lyxor AM.

This strategic collaboration follows just weeks after IZNES, the mutual funds blockchain issuance platform, went live and processed its first real transactions. The collaboration gives IZNES the necessary means and support for the deployment and production phase expected for 2018 in France and in Luxembourg.

These asset management companies have different economic models, products and clients, which ensures that IZNES will meet the requirements of both clients and asset managers for the whole European market.

The use of SETL’s highly efficient and secure blockchain technology by IZNES facilitates clients’ access to mutual funds, optimises operational workflow, reduces transaction costs and delivers an optimal level of security for investors and asset managers.

Pierre Davoust, CEO of IZNES, stated:

I am delighted to welcome Arkéa IS, Groupama AM, La Banque Postale AM, La Financière de l’Échiquier et Lyxor AM as shareholders of IZNES, and to announce new contributors to the project.

With 20 asset managers, representing together more than 5 trillion EUR of assets under management, IZNES now benefits from a solid market backing and becomes a central market infrastructure.

We now focus our efforts on the delivery of the commercial version of IZNES, which will occur this year!

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